May 11, 2020, 4:53AM EDT
• 1 min read

The weekend crash under the microscope

Quick Take

  • The price of bitcoin dropped by 14.5% within 10 minutes, which marked the sixth-worst weekend since 2017
  • The price on Bitfinex appeared to be leading the fall, which could Bitfinex traders played a big role
  • Analysis of volume shows that the crash was likely initiated on Coinbase and then sustained on Bitfinex
  • Binance experienced the largest drop in open interest; both in terms of USD and also the relative change as the open interest fell by $161 million

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